ONGC chairman's interview-I:

Jul 06: In an interview, the ONGC chairman D.K. Sarraf made the following points:8Output will go up by an incremental 25 mmscmd by 2020. 60% of this is going to come from the KG-DWN-98/2 while the other 40% will be contributed by the Daman, C-26, Vasistha & S1, WO-16 and B-127 offshore assets.8Offshore gas output will increase by 14% and onshore by 4%8Oil output will go up at a lower pace, offshore by 3% and onshore by 1%8Oil & gas finding cost has halved over the past 3 years to $ 2.53/boe due to drilling efficiency, dry well cost reduction, higher exploration success and reduction in cost of services. 8Drilling cost in FY17 also plunged 37% YoY, driven by improvement in operational efficiency, introduction of new technology and reduction in cost of hired services.8Also given here are the key projects along with their investments which will revive gas output.8Estimated oil and gas production going up to 2020 is carried here.Click on Reports for more